Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

OFAC compliance in the securities and investment sector

OFAC compliance in the securities and investment sector Purpose The purpose of this paper is to highlight some of the most significant US sanctions risks faced by persons that operate in the securities and investment marketplace, in order to encourage firms to maintain comprehensive, riskbased compliance controls that will strengthen their ability to comply with US sanctions regulations.Designmethodologyapproach The paper begins with a brief overview of the sanctions programs administered by the US Treasury Department's Office of Foreign Assets Control OFAC, followed by examples of potential sanctions violations that emphasize the risks and challenges faced by the securities and investment sector with respect to sanctions. Finally, the paper describes how firms can develop measures intended to mitigate their OFAC risk and prevent the potentially costly monetary penalties associated with violations of US sanctions regulations.Findings The nature of the securities and investment sector can make identifying the often indirect sanctions implications of engaging in certain activity a challenging task however, a well thought out, responsibly implemented OFAC compliance program can help mitigate sanctions risks in an effective manner.Originalityvalue The paper provides insight regarding OFAC compliance in the securities and investment sector directly from the government agency responsible for administering and enforcing US sanctions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Investment Compliance Emerald Publishing

OFAC compliance in the securities and investment sector

Journal of Investment Compliance , Volume 13 (3): 6 – Sep 7, 2012

Loading next page...
 
/lp/emerald-publishing/ofac-compliance-in-the-securities-and-investment-sector-nYq40mltPm
Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1528-5812
DOI
10.1108/15285811211266074
Publisher site
See Article on Publisher Site

Abstract

Purpose The purpose of this paper is to highlight some of the most significant US sanctions risks faced by persons that operate in the securities and investment marketplace, in order to encourage firms to maintain comprehensive, riskbased compliance controls that will strengthen their ability to comply with US sanctions regulations.Designmethodologyapproach The paper begins with a brief overview of the sanctions programs administered by the US Treasury Department's Office of Foreign Assets Control OFAC, followed by examples of potential sanctions violations that emphasize the risks and challenges faced by the securities and investment sector with respect to sanctions. Finally, the paper describes how firms can develop measures intended to mitigate their OFAC risk and prevent the potentially costly monetary penalties associated with violations of US sanctions regulations.Findings The nature of the securities and investment sector can make identifying the often indirect sanctions implications of engaging in certain activity a challenging task however, a well thought out, responsibly implemented OFAC compliance program can help mitigate sanctions risks in an effective manner.Originalityvalue The paper provides insight regarding OFAC compliance in the securities and investment sector directly from the government agency responsible for administering and enforcing US sanctions.

Journal

Journal of Investment ComplianceEmerald Publishing

Published: Sep 7, 2012

There are no references for this article.